Insurance agents, brokers may get lower commission after GST cuts
Insurance intermediaries such as agents and brokers may see a hit to their commissions as insurers face pressure to pass on the full benefit of the recent GST (goods and services tax) cut to consumers. From 22 September, GST on individual life and health insurance policies was reduced to zero from 18%, but the removal…
RBI’s new norms brings flexibility for borrowers and banks
MUMBAI: The Reserve Bank of India (RBI) has set about easing lending norms while tightening its financial oversight. Its latest rules promise cheaper and more flexible loans for borrowers, wider access to credit against gold, and easier capital-raising avenues for banks. Draft proposals, meanwhile, would extend repayment terms, sharpen exposure limits and quicken credit reporting—measures…